Tanger Inc. (SKT) Financial Ratios
30 years of historical data (1996–2025) · Real Estate · REIT - Retail
EV/EBITDA
↑
18.84
+14% vs avg
5yr avg: 16.49
30Y Low7.7·High20.9
P/FCF
↑
22.11
↑+39% vs avg
5yr avg: 15.89
30Y Low6.7·High195.0
P/B Ratio
↑
6.09
↑+30% vs avg
5yr avg: 4.68
30Y Low1.0·High6.6
ROE
↑
16.2%
↓+19% vs avg
5yr avg: 13.6%
30Y Low-9%·High37%
Debt/EBITDA
↓
5.17
↓-14% vs avg
5yr avg: 6.02
30Y Low3.6·High12.5
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
SKT Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Tanger Inc. trades at 39.1x earnings, 46% below its 5-year average of 72.4x, sitting at the 63rd percentile of its historical range. Compared to the Real Estate sector median P/E of 24.1x, the stock trades at a premium of 62%. On a free-cash-flow basis, the stock trades at 22.1x P/FCF, 39% above the 5-year average of 15.9x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $4.5B | $3.8B | $3.8B | $3.0B | $1.9B | $2.0B | $922M | $1.4B | $1.9B | $2.5B | $3.4B |
| Enterprise Value | $6.1B | $5.5B | $5.3B | $4.5B | $3.2B | $3.3B | $2.5B | $3.0B | $3.6B | $4.3B | $5.1B |
| P/E Ratio → | 39.10 | 33.37 | 38.78 | 30.13 | 23.30 | 236.56 | — | 64.04 | — | 37.34 | 17.80 |
| P/S Ratio | 7.70 | 6.57 | 7.21 | 6.36 | 4.28 | 4.61 | 2.37 | 2.81 | 3.81 | 5.13 | 7.32 |
| P/B Ratio | 6.09 | 5.20 | 5.58 | 4.99 | 3.69 | 3.93 | 2.57 | 3.00 | 3.73 | 4.09 | 4.84 |
| P/FCF | 22.11 | 18.87 | 24.24 | 13.49 | 11.37 | 11.44 | 6.75 | 7.58 | 9.36 | 13.27 | 18.89 |
| P/OCF | 15.00 | 12.80 | 14.34 | 12.86 | 8.86 | 9.03 | 5.60 | 6.20 | 7.30 | 9.90 | 14.25 |
P/E links to full P/E history page with 30-year chart
SKT EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Tanger Inc.'s enterprise value stands at 18.8x EBITDA, 14% above its 5-year average of 16.5x. The Real Estate sector median is 17.0x, placing the stock at a 11% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 9.45 | 9.98 | 9.62 | 7.23 | 7.72 | 6.40 | 6.19 | 7.26 | 8.73 | 10.92 |
| EV / EBITDA | 18.84 | 16.83 | 18.15 | 18.40 | 14.08 | 14.96 | 17.54 | 7.72 | 8.35 | 8.74 | 10.92 |
| EV / EBIT | 35.07 | 29.64 | 32.14 | 29.42 | 24.09 | 52.72 | 99.31 | 19.34 | 32.53 | 31.19 | 19.20 |
| EV / FCF | — | 27.12 | 33.58 | 20.41 | 19.20 | 19.16 | 18.25 | 16.70 | 17.81 | 22.58 | 28.17 |
SKT Profitability
Margins and return-on-capital ratios measuring operating efficiency
Tanger Inc. earns an operating margin of 30.2%, above the Real Estate sector average of 24.8%. Operating margins have expanded from 28.8% to 30.2% over the past 3 years, signaling improving operational efficiency. ROE of 16.2% indicates solid capital efficiency. ROIC of 5.8% represents adequate returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 17.7% | 17.7% | 69.8% | 68.7% | 67.5% | 67.0% | 64.8% | 72.9% | 67.6% | 68.2% | 67.4% |
| Operating Margin | 30.2% | 30.2% | 28.6% | 28.8% | 26.0% | 25.8% | — | 57.4% | 18.9% | 32.9% | 32.5% |
| Net Profit Margin | 19.7% | 19.7% | 18.7% | 21.3% | 18.5% | 2.1% | -9.3% | 18.1% | -1.2% | 13.9% | 41.6% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 16.2% | 16.2% | 15.5% | 17.9% | 16.2% | 2.1% | -8.9% | 18.3% | -1.1% | 10.3% | 29.5% |
| ROA | 4.6% | 4.6% | 4.2% | 4.4% | 3.8% | 0.4% | -1.6% | 3.8% | -0.2% | 2.7% | 8.0% |
| ROIC | 5.8% | 5.8% | 5.3% | 5.1% | 4.7% | 4.4% | — | 9.7% | 3.1% | 5.1% | 5.0% |
| ROCE | 7.4% | 7.4% | 6.7% | 6.2% | 5.5% | 5.3% | — | 12.8% | 4.2% | 6.9% | 6.8% |
SKT Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Tanger Inc. carries a Debt/EBITDA ratio of 5.2x, which is highly leveraged (35% below the sector average of 7.9x). Net debt stands at $1.7B ($1.7B total debt minus $18M cash). Interest coverage of just 2.8x is concerning — the company has limited headroom to absorb earnings volatility before struggling with debt service.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 2.30 | 2.30 | 2.22 | 2.58 | 2.95 | 2.97 | 4.62 | 3.64 | 3.39 | 2.88 | 2.39 |
| Debt / EBITDA | 5.17 | 5.17 | 5.21 | 6.28 | 6.67 | 6.76 | 11.65 | 4.26 | 3.98 | 3.62 | 3.62 |
| Net Debt / Equity | — | 2.27 | 2.15 | 2.56 | 2.54 | 2.65 | 4.38 | 3.61 | 3.37 | 2.87 | 2.38 |
| Net Debt / EBITDA | 5.12 | 5.12 | 5.05 | 6.23 | 5.74 | 6.02 | 11.06 | 4.22 | 3.96 | 3.60 | 3.60 |
| Debt / FCF | — | 8.25 | 9.34 | 6.91 | 7.83 | 7.71 | 11.50 | 9.12 | 8.45 | 9.31 | 9.28 |
| Interest Coverage | 2.81 | 2.81 | 2.69 | 3.17 | 2.83 | 1.18 | 0.40 | 2.52 | 1.70 | 2.11 | 4.37 |
SKT Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.30x is below 1.0, meaning current liabilities exceed current assets. The current ratio has improved from 0.17x to 0.30x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.30 | 0.30 | 0.44 | 0.17 | 2.53 | 1.73 | 0.96 | 0.21 | 0.48 | 0.34 | 0.70 |
| Quick Ratio | 0.30 | 0.30 | 0.44 | 0.17 | 2.53 | 1.73 | 0.96 | 0.21 | 0.50 | 0.36 | 0.73 |
| Cash Ratio | 0.10 | 0.10 | 0.44 | 0.17 | 2.53 | 1.73 | 0.96 | 0.21 | 0.04 | 0.02 | 0.09 |
| Asset Turnover | — | 0.22 | 0.22 | 0.20 | 0.20 | 0.20 | 0.18 | 0.21 | 0.21 | 0.19 | 0.18 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
SKT Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Tanger Inc. returns 3.0% to shareholders annually primarily through dividends. The earnings yield of 2.6% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 3.0% | 3.5% | 3.2% | 3.5% | 4.4% | 3.7% | 7.2% | 9.7% | 7.0% | 5.2% | 4.1% |
| Payout Ratio | — | — | — | 104.7% | 102.6% | 794.3% | — | 151.0% | — | 191.4% | 72.8% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 2.6% | 3.0% | 2.6% | 3.3% | 4.3% | 0.4% | — | 1.6% | — | 2.7% | 5.6% |
| FCF Yield | 4.5% | 5.3% | 4.1% | 7.4% | 8.8% | 8.7% | 14.8% | 13.2% | 10.7% | 7.5% | 5.3% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.2% | 0.0% | 0.1% | 1.5% | 1.1% | 2.0% | 0.1% |
| Total Shareholder Yield | 3.0% | 3.5% | 3.2% | 3.5% | 4.7% | 3.7% | 7.3% | 11.2% | 8.0% | 7.2% | 4.2% |
| Shares Outstanding | — | $115M | $111M | $107M | $106M | $102M | $93M | $93M | $93M | $95M | $95M |
Peer Comparison
Compare SKT with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 SKTYou | $4B | 39.1 | 18.8 | 22.1 | 17.7% | 30.2% | 16.2% | 5.8% | 5.2 |
 SPG | $69B | 14.9 | 20.8 | 19.3 | 85.7% | 49.9% | 89.6% | 7.7% | 6.3 |
 MAC | $6B | -30.7 | 21.2 | 19.1 | 38.2% | 16.5% | -7.3% | 1.6% | 9.8 |
 CBL | $1B | 10.9 | 11.8 | 20.4 | 7.6% | 24.2% | 40.1% | 4.2% | 7.1 |
 O | $56B | 51.5 | 21.6 | 14.1 | 89.8% | 28.3% | 2.7% | 1.8% | 8.0 |
 NNN | $9B | 21.7 | 16.0 | 12.8 | 38.0% | 61.5% | 8.9% | 4.8% | 5.8 |
 KIM | $16B | 29.4 | 18.1 | 21.3 | 54.7% | 35.2% | 5.5% | 3.0% | 6.3 |
 REG | $14B | 27.3 | 20.3 | 35.7 | 44.7% | 37.0% | 7.5% | 3.5% | 6.1 |
 BRX | $9B | 24.7 | 16.3 | 14.5 | 75.2% | 36.7% | 12.9% | 4.6% | 6.4 |
 PVH | $4B | 145.4 | 29.1 | 6.6 | 57.5% | 7.3% | 0.5% | 6.1% | 17.5 |
 RL | $25B | 27.3 | 22.2 | 33.8 | 69.9% | 14.5% | 34.7% | 24.7% | 2.5 |
| Real Estate Median | — | 24.1 | 17.0 | 15.4 | 49.3% | 24.8% | 3.7% | 2.7% | 7.9 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 30 years · Updated daily
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SKT — Frequently Asked Questions
Quick answers to the most common questions about buying SKT stock.
What is Tanger Inc.'s P/E ratio?
Tanger Inc.'s current P/E ratio is 39.1x. The historical average is 45.5x. This places it at the 63th percentile of its historical range.
What is Tanger Inc.'s EV/EBITDA?
Tanger Inc.'s current EV/EBITDA is 18.8x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 13.9x.
What is Tanger Inc.'s ROE?
Tanger Inc.'s return on equity (ROE) is 16.2%. The historical average is 10.8%.
Is SKT stock overvalued?
Based on historical data, Tanger Inc. is trading at a P/E of 39.1x. This is at the 63th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Tanger Inc.'s dividend yield?
Tanger Inc.'s current dividend yield is 2.95%.
What are Tanger Inc.'s profit margins?
Tanger Inc. has 17.7% gross margin and 30.2% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does Tanger Inc. have?
Tanger Inc.'s Debt/EBITDA ratio is 5.2x, indicating high leverage. A ratio above 4x may signal elevated financial risk.